38,653 new vehicles were delivered in the first quarter of 2009, 36% fewer than during the corresponding quarter of 2008, according to the Israel Motor Vehicles Importers Association, on the basis of licensing figures. New car deliveries also fell 36% to 31,807. However, deliveries of SUVs fell by 23% to 3,393 in the first quarter.
15,007 vehicles were delivered in March, 30% fewer than in March 2008, but nearly 25% more than in February 2009.
Vehicle industry sources attribute several factors to the uptick in vehicle deliveries in March, including increased purchases by rental companies ahead of the start of the tourist season on Passover, a sharp increase in number of unsold vehicles registered by importers 12 months after manufacture as mandated by law, and the increase in credit extended by car importers to replace other sources of credit. The sources believe that thousands of new cars were sold in March with 24 or 36 monthly installments against liens on the cars.
Mazda was the leading brand, with 6,190 deliveries in the first quarter, 44% fewer than in the corresponding quarter of last year. Hyundai was in second place, with 5,077 deliveries, down 19%. Toyota was in third place, with 3,105 deliveries, down 50%. Ford was in fourth place, with 3,091 deliveries, down 5%.
In the luxury car segment, BMW delivered 258 cars in the first quarter, 75% more than in the corresponding quarter of last year, and Volvo delivered 295 cars, up 51%.
Published by Globes [online], Israel business news - www.globes-online.com - on April 5, 2009
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